World to have 50 bln Internet objects by 2020, says Cisco

NEW DELHI: Cisco Tuesday said that that by 2020, 50 billion objects will be connected to the Internet and able to generate massive streams of data.

By neglecting digital workforce transformation, companies are failing to build the capabilities that they will need to succeed in an era of digital disruption, Cisco- IMD in a joint study said.

In such (digital) a climate, organizations must ensure that, ultimately, people are empowered by these new forms of communication and the insights they enable, the networking solutions company said in a statement.

The finding suggests that four in 10 industry incumbents will be displaced by digital disruption over the next five years.

In an effort to battle digital disruptors, many companies have focused business transformation efforts on IT and business processes, it added.

More than 75 disruptive workforce startups were interviewed for the research inputs.

Several people ET spoke with about Ericsson’s India operations, including its current and former employees, said the Stockholm-based firm has reduced headcount in the last one year or so across functions, in line with its global restructuring.